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Home › Banks ›
Bank
Instituto de Crédito Oficial (ICO)Spain

Active

This profile is actively maintained
Last update: 2022-09-30 00:00:00
Instituto de Crédit Oficial's head office in Madrid. Photo: FDV via Wikimedia Commons (CC BY-SA 3.0)

Active

This profile is actively maintained
Last update: 2022-09-30 00:00:00
About
Website https://www.ico.es/en/web/ico_en/home
Headquarters
Paseo del Prado 4
28014 Madrid
Spain
CEO/chair José Carlos Garcia de Quevedo
Chairman
Supervisor
Banco de España
Ownership

The Instituto de Credito Oficial is a public organisation and as such wholly owned by the Spanish state.

The Instituto de Crédito Oficial (ICO) is a Spanish state-owned bank attached to the Ministry of Economic Affairs, Industry and Competitiveness via the State Secretariat for Economy and Enterprise Support. It has two functions: one as a credit institution and second as the State Financial Agency. The ICO Group also consists of Axis, a venture capital firm, and the Fundación ICO. ICO signed the Equator Principles in September 2016.

Sustainability
Policies
Voluntary standards

ICO's webpage on corporate social responsibility can be accessed here.

2021-02-04 00:00:00

Environmental policy

Bank policy
2021-02-04 00:00:00 | ICO
2020-10-22 00:00:00

Sustainability policy

Bank policy
2020-10-22 00:00:00 | ICO
2017-03-13 00:00:00

Corporate social responsibility policy

Bank policy
2017-03-13 00:00:00 | ICO
2015-12-31 00:00:00

Code of Ethics and Conduct

Bank policy
2015-12-31 00:00:00 | ICO
Instituto de Crédito Oficial (ICO) has committed itself to the following voluntary standards:
Equator PrinciplesTags: Equator Principles | project finance | corporate social responsibility | sustainable development
Global Reporting InitiativeTags: sustainable development | human rights
UNEP Finance InitiativeTags: United Nations | sustainable development
United Nations Global CompactTags: United Nations | human rights
Dodgy Deals

Instituto De Crédito Oficial (ICO) is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Instituto De Crédito Oficial (ICO)'s link to these deals.

Projects / Companies
Finance type
Year
News
BankTrack
Partners
Blog
External
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report exposes billions in European financial support to companies in illegal Israeli settlements

2021-09-29 | Don't Buy Into Occupation
Blog
BankTrack news BankTrack blog Partner news Partner blog

New BankTrack Equator Principles reporting tracking tool launched

2020-09-21 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Equator Principles: New BankTrack database sheds light on patchy project name reporting

BankTrack publishes database of Equator-financed projects, together with analysis showing some banks report few or no project names – notable poor performers include ING, HSBC and Lloyds
2020-06-29 | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

The Nauru files: cache of 2,000 leaked reports reveal scale of abuse of children in Australian offshore detention

2016-08-10 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Human rights groups call out the financial sector's association with abuse

2016-07-27 | Sydney | Get up ! Human Rights Law Centre
Resources
Documents
2022-06-14 00:00:00

Annual report 2021

Annual report
2022-06-14 00:00:00 | ICO
2021-06-15 00:00:00

Annual integrated report 2020

Annual report
2021-06-15 00:00:00 | ICO
2021-02-04 00:00:00

Environmental policy

Bank policy
2021-02-04 00:00:00 | ICO
2020-10-22 00:00:00

Annual integrated report 2019

Annual report
2020-10-22 00:00:00 | ICO
2020-10-22 00:00:00

Sustainability policy

Bank policy
2020-10-22 00:00:00 | ICO
2019-07-31 00:00:00

Annual integrated report 2018

Annual report
2019-07-31 00:00:00 | Instituto de Crédito Oficial
2018-03-31 00:00:00

Annual integrated report 2017

Annual report
2018-03-31 00:00:00 | ICO
2017-03-31 00:00:00

Annual integrated report 2016

Annual report
2017-03-31 00:00:00 | ICO
2017-03-13 00:00:00

Corporate social responsibility policy

Bank policy
2017-03-13 00:00:00 | ICO
2016-07-31 00:00:00

Association with abuse

NGO document
2016-07-31 00:00:00 | Get up! Human rights Law Centre
2016-03-31 00:00:00

Annual report 2015

Annual report
2016-03-31 00:00:00 | Instituto de Credito Oficial
2016-03-31 00:00:00

CSR Report 2015

Annual report
2016-03-31 00:00:00 | Instituto de Credito Oficial
2015-12-31 00:00:00

Corporate Governance Report 2015

Annual report
2015-12-31 00:00:00 | ICO
2015-12-31 00:00:00

Code of Ethics and Conduct

Bank policy
2015-12-31 00:00:00 | ICO
Accountability
Grievances

ICO does not operate a complaints or grievances channel for individuals or communities who might have affected by its finance.

Stakeholders may raise complaints via the OECD National Contact Points (guidance OECD Watch).

This page evaluates Instituto de Crédito Oficial (ICO)'s responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed
Responded?
Total score
Response
Action
Monitoring

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